Gold just hit $1600 per ounce. How high can it go?
 

Some experts say gold and silver will cool off over the next few months and drop in value. Others say they could double in value over the next 1-3 years. It will be interesting to see who is right, but if you bought gold in 2007 when it was $600/oz you are loving it today.

More impressive if you bought silver in 2007 when it was around $12/oz you are loving it even more because it is now at $40/oz

gold must be going down soon!

In the next 6 months it will drop down to maybe $1100/oz.

yep, there probably will be a market correction, but since it has hit a new benchmark, it will more than likely hit it again and surpass it:2 cents:

I think its on the peak.. and will go down soon.

I REALLY, REALLY doubt it would go that low......

$1400 possible but that would be a superb entry point.

Depends on how the debt ceiling mess goes and QE3. If the government continues trying to print us out of this recession/depression expect gold to go much higher. $2k within 6 months would not surprise me one bit.

I always get my investment advice from GFY forums too.
http://topnews.in/law/files/us-stocks.jpg

I'm waiting for the dollar to crash. I dont think I'll have to wait that long. It will be interesting to see what happens after QE3.

Jesus, you speak the truth. The eurozone is fucked. This just adds to gold's upside.

I'm loving it :thumbsup

Keep on panning ;)

gold is interesting on a psychological level. when things get unstable people flock to and invest their money and faith in an actual can touch with your hands physical object ... like that is really going to save them.

like primitive magic really ...

shouldn't ron paul be setting the price of gold?


in ron we trust.

pump & dump is building :2 cents:

yep i love it when people bank on world economies collapsing so their gold goes up in value.

but at least they can melt it down and use it for bullets during the mass scale riots:thumbsup

I wouldn't be surprised if it hits 2k, honestly. The dollar is all but dead at this point.

I bought some last week and will be buying more this week.

Gold is going to experience a short term correction (1100-1300) and I'll just buy on the dip. Still have silver and going to sell it at $50 (yes it will go up that high). I'm still laughing at all the morons calling precious metals a "bubble".

I thought it was a little absurd to see all these infomercials for gold investment. In retrospect it wouldn't have been a bad buy at all.

i believe the people who say it's going to double within 1-3 years. very tempted to buy even now at this price but i've never bought gold before.

what's the best way to buy gold and what are the fees when i buy and when i sell?

i heard a gold tout say this 'in the middle of the Great Depression an ounce of gold bought a fine custom tailored man's suit and today it does the same'

I dont see gold as a bubble. Silver definitely has some good pumping going along with it though. As long as they keep printing money the value will go higher. When the Weimar republic turned the printing presses on the value of gold and silver were in the trillions of dollars. lol

I knew we'd agree on something eventually! :)



.

If you believe that you will need it someday because the world is going to collapse, then along with your water / food / ammunition supplies you can buy physical from a numismatics dealer.

If you are simply treating it as an investment / trade that you will sell one day, you can look at ETF's or if you can handle the leverage, futures contracts.


.

Gold will dip and then go up again and make $1600 look normal. The point is that gold has not been going up in value at all... the dollar and the euro have been going down.

Why limit it to just those two currencies? I wish people would stop repeating your statement as if to single out the US Dollar or Euro.

Go here, set the time period to 10 years, then keep changing currencies and let me know when you find one where gold is not going up in that currency.


.

Actually, if economies do collapse, the only thing you will be able to buy necessary items with is precious minerals of value....ie gold, silver, platinum, diamonds and so forth.

I think people investing in something they do not have in their hands is as good as the worthless currency if the economy fails totally....:2 cents:

precious metals have no inherent value. can't eat gold, grow gold, build a house from gold.

if the economy did collapse sitting on your little pile will look silly.

funny documentary on the people prepping for doomsday, the producers brought in experts and graded them all and they all failed but 1 due to letting the neighbors know about their preparedness but not bringing in the neighbors on the plan, instead making themselves targets and not having adequate defense to deal with a horde of people coming after their supplies.

Looks like somebody needs a lesson in historical economies that used Gold as their main currency.

the whole "stockpiling for collapse" thing is pretty funny as well.

history shows whenever a society dissolves recently there is yes, a short lived period of dissolution and chaos, but then societies rebuild and restructure to get food on the shelves and the trains running again.

in times of chaos people come together, not apart. though there will be some struggles to see who ends up the top primate.

over your head as usual.

But those days are gone and won't return. Sorry.

But to the point, I guess it depends on how one defines collapse. This is not going to happen in any sustained way, but if all fiat money and systems are rendered useless and chaos ensues, people will exchange goods that will be useful for survival.

Gold, silver, copper, diamonds are not going to be the top choices for people with something useful to trade for. Even when order returns, it money will not be precious metal based.

.

In a way you are right, but precious metals can be traded for staples and other items to sustain yourself during a crisis when currency is worthless......is what I was getting at ;)

The market in metals still has not hit the "irrational buying frenzy" stage. :2 cents::2 cents::2 cents:

Yes please give me some examples. Rome? lol

people could trade woodchips with the signature of a local artist if they could agree on it as a medium. no reason to use gold or silver.

if things did collapse most likely a new fiat currency would appear approved and controlled by your town, state, community council whatever. there isn't enough gold to go around to make it realistic.

I used to pay $500 to fly to US in 2006, recently checked the rate and it hit $1k for return ticket.

It may have some fluctuations, but it will keep going up. As currency is devalued and becomes more unstable, people always turn to precious metals.

Spend some time reading blogs from people who went through the Argentina crash in the late 90s. Some really good stuff out there in terms of survival and what is really important once your currency becomes worthless overnight. You'd be surprised what becomes valuable. Besides precious metals... instant packs of coffee, bullets, medical supplies (antibiotics), food, smokes, and so on.

Nothing wrong with having food storage, weapons, and items to barter. Plan for the worst and hope for the best. If nothing ever happens, you didn't lose anything. If something bad does happen, you're somewhat prepared.

No doubt there would be a new currency pop up sooner or later, and guess who's going to be able to have a lot of it? Those who can trade gold and silver (or other tangibles) for it.

Guess who's going to get shafted into poverty? Those who were only holding dollars, which would then be worthless and unable to trade for the new currency.

Don't worry about if a new currency will be backed by gold or not, worry about what you're going to be left holding if it all falls apart, and how you are going to get your hands on that new currency if you have nothing to trade for it. No one, and I mean no one, is going to be driving down the streets giving it away for free, and you can bet your ass that your bank, who was at one time holding $100k for you, is going to trade your $100k worth of toilet paper for 100k worth of a new currency, fiat or otherwise.

In a worst case scenario, and a new currency is introduced, if you're not in a position to have something to buy it with, you're going to be living in a van down by the river. And when it comes, it will happen overnight and without warning.

It started in Argentina in 1975, they went through a few "currency reforms" over a decade and a half so that by 1992 one peso = 100 billion 1975 pesos.

Most people never heard of this hyperinflation and sure as hell 99% of people alive at the time were completely unaware of what was happening in Argentina.

If at some point in the future a single 2001 US Dollar is worth 100 billion times the then existing US Dollar, things will have already been so far gone that the whole world will be a different place.

Worrying about this scenario should only be for those attired with tin foil hats. :2 cents::2 cents:


.